REG - NextEnergy Solar Fnd - Result of AGM

NextEnergy Solar FundAnnouncement

20/08/2025 15:15

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RNS Number : 1382W  NextEnergy Solar Fund Limited  20 August 2025

LEI: 213800ZPHCBDDSQH5447

20 August 2025

 

NextEnergy Solar Fund Limited

 

("NESF" or the "Company")

 

Results of Annual General Meeting

 

NextEnergy Solar Fund, a leading specialist investor in solar energy and
energy storage, is pleased to announce that at the Annual General Meeting
("AGM") of the Company held today at 12.00pm on 20 August 2025, all proposed
Ordinary and Special Resolutions were voted in line with the Board's voting
recommendations.

 

Ordinary Resolutions 1-9 and Special Resolutions 10-12 passed with the
requisite majority.  In accordance with the recommendation of the Board,
Special Resolution 13 (The Discontinuation Vote) did not pass.

 

Paul Le Page, Interim Chairman of NextEnergy Solar Fund Limited, commented:

"The Board and I would like to thank our shareholders that voted in-line with
the Board's recommendations showing strong support for the continuation of
NextEnergy Solar Fund. This outcome reflects the confidence in our proactive
strategy to narrow the discount, grow the portfolio, and provide long-term
shareholder value. The Board continues to engage with shareholders to ensure
their views are fully understood. The directors acknowledge that c.7% of
NextEnergy Solar Fund's total issued Ordinary Shares and 12.17% of votes cast
in the AGM voted 'For' Resolution 13 and the discontinuation of the Company in
its current form, the Board and investment adviser continue to engage with
these shareholders to address their concerns."

 

 

The voting breakdown of all resolutions is as follows:

 

 Ordinary Business - Ordinary Resolutions                                      Votes For            Votes Against         Votes Withheld*
 1.   To receive and adopt the Financial Statements of the Company for the     314,043,509  99.88%  388,495      0.12%    432,522
 year ended 31 March 2025
 2.   To approve the Directors' remuneration report for the year ended 31      295,050,085  93.98%  18,913,924   6.02%    900,517
 March 2025
 3.   To approve the Company's dividend policy                                 313,913,684  99.81%  582,101      0.19%    368,741
 4.   To re-elect Paul Le Page                                                 295,766,228  94.22%  18,133,197   5.78%    965,101

 5.   To re-elect Josephine Bush                                               295,685,750  94.20%  18,206,813   5.80%    971,963

 6.   To re-elect Jo Peacegood                                                 289,654,565  94.08%  18,216,422   5.92%    6,993,539

 7.   To elect Caroline Chan                                                   295,674,139  94.19%  18,250,936   5.81%    939,451

 8.   To re-appoint KPMG Channel Islands Limited as auditor to the Company     295,972,189  94.26%  18,021,731   5.74%    870,606
 9.   To authorise the Directors to set the remuneration of the auditor        296,408,080  94.40%  17,589,813   5.60%    866,633
 Special Business - Special Resolutions
 10. To authorise the Directors to allot and issue ordinary shares (or sell    293,477,960  93.50%  20,411,318   6.50%    975,248
 treasury shares) in the Company
 11. To authorise the Directors to allot additional ordinary shares (or sell   293,375,368  93.48%  20,478,918   6.52%    1,010,240
 treasury shares) in the Company
 12. To authorise the Company to make market purchases of its own shares       314,002,745  99.79%  646,499      0.21%    215,282
 13. Discontinuation vote: That the Company ceases to continue in its present  37,950,668   12.17%  273,935,913  87.83%   2,977,945
 form.

 

The full text of the resolutions may be found in the Notice of Annual General
Meeting dated 17 July 2025, which is available on both the Company's website
https://www.nextenergysolarfund.com/ (https://www.nextenergysolarfund.com/)
and on the National Storage Mechanism ("NSM")
https://data.fca.org.uk/#/nsm/nationalstoragemechanism**
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism**) . Details of the
proxy votes lodged before the meeting will also be available shortly on the
Company's website.

 

A copy of the Special Resolutions passed at the Annual General Meeting has
been submitted to the NSM and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) **.

 

*              A vote withheld is not a vote in law and is not
counted in the proportion of votes 'for' or   'against' a

resolution

**           Neither the NSM website nor the Company's website nor
the content of any website accessible from hyperlinks on those websites (or
any other websites) is (or is deemed to be) incorporated into, or forms (or is
deemed to form) part of this notification.

 

 

 

 

 For further information:

 NextEnergy Capital                            020 3746 0700

 Michael Bonte-Friedheim                       ir@nextenergysolarfund.com (mailto:ir@nextenergysolarfund.com)
 Ross Grier
 Stephen Rosser
 Peter Hamid (Investor Relations)
                                               020 7653 4000

 RBC Capital Markets
 Matthew Coakes
 Kathryn Deegan
                                               020 7908 6000

 Cavendish
 Robert Peel
                                               020 7379 5151

 H/Advisors Maitland
 Neil Bennett
 Finlay Donaldson
                                               01481 742642

 Ocorian Administration (Guernsey) Limited
 Kevin Smith

 

 

Notes to Editors (1):

About NextEnergy Solar Fund

NextEnergy Solar Fund is a specialist solar energy and energy storage
investment company that is listed on the Main Market of the London Stock
Exchange.

 

NextEnergy Solar Fund's investment objective is to provide Ordinary
Shareholders with attractive risk-adjusted returns, principally in the form of
regular dividends, by investing in a diversified portfolio of utility-scale
solar energy and energy storage infrastructure assets.  The majority of
NESF's long-term cash flows are inflation-linked via UK government subsidies.

 

As at 31 March 2025, the Company had an audited gross asset value of
£1,061m.  For further information please visit www.nextenergysolarfund.com
(http://nextenergysolarfund.com/)

 

Article 9 Fund

NextEnergy Solar Fund is classified under Article 9 of the EU Sustainable
Finance Disclosure Regulation and EU Taxonomy Regulation.  NextEnergy Solar
Fund's sustainability-related disclosures in the financial services sector are
in accordance with Regulation (EU) 2019/2088 and can be accessed on the ESG
section of both the NextEnergy Solar Fund and NextEnergy Capital websites.

 

About NextEnergy Group

NextEnergy Solar Fund is managed by NextEnergy Capital, part of the NextEnergy
Group.  NextEnergy Group was founded in 2007 to become a leading market
participant in the international solar sector which now employs over 400
professionals.  Since its inception, NextEnergy Group has been active in the
development, construction, and ownership of solar assets across multiple
jurisdictions.  NextEnergy Group operates via its three business units:
NextEnergy Capital (Investment Management), WiseEnergy (Operating Asset
Management), and Starlight (Asset Development).

 

·      NextEnergy Capital: has over 18 years of specialist solar
expertise having invested in over 530 individual solar plants across the
world.  NextEnergy Capital currently manages four institutional funds with a
total capacity in excess of 3GW+ and has funds under management of c.$4.4bn.
More information is available at www.nextenergycapital.com
(https://www.nextenergycapital.com/)

·      WiseEnergy®:  is a leading specialist operating asset manager
in the solar sector.  Since its founding, WiseEnergy has provided solar asset
management, monitoring and technical due diligence services to over 1,600
utility-scale solar power plants with an installed capacity in excess of
3.5GW.  More information is available at www.wise-energy.com
(https://www.wise-energy.com/)

·      Starlight: has developed over 100 utility-scale projects
internationally and continues to progress a large pipeline of c.11.5GW of both
green and brownfield project developments across global geographies.  More
information is available at www.starlight-energy.com
(https://www.starlight-energy.com/)

 

Notes:

(1:) All financial data is audited at 31 March 2025, being the latest date in
respect of which NextEnergy Solar Fund has published financial information.

 

 

 

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